Asset Planning Corporation Has $1.13 Million Position in Apple Inc. (NASDAQ:AAPL)

Posted by Defense World Staff on Sep 26th, 2023

Asset Planning Corporation lifted its stake in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 7.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,829 shares of the iPhone maker’s stock after purchasing an additional 386 shares during the quarter. Apple accounts for about 0.9% of Asset Planning Corporation’s portfolio, making the stock its 20th largest position. Asset Planning Corporation’s holdings in Apple were worth $1,131,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC grew its position in Apple by 116,483.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 569,554,722 shares of the iPhone maker’s stock worth $74,002,245,000 after acquiring an additional 569,066,184 shares during the last quarter. Norges Bank bought a new stake in shares of Apple during the fourth quarter worth about $21,746,940,000. Morgan Stanley grew its holdings in shares of Apple by 14.2% during the fourth quarter. Morgan Stanley now owns 208,655,323 shares of the iPhone maker’s stock worth $27,110,586,000 after purchasing an additional 25,926,552 shares during the last quarter. Berkshire Hathaway Inc raised its holdings in Apple by 2.3% in the 1st quarter. Berkshire Hathaway Inc now owns 915,560,382 shares of the iPhone maker’s stock valued at $150,975,907,000 after buying an additional 20,424,207 shares during the last quarter. Finally, Providence Capital Advisors LLC boosted its position in Apple by 16,638.6% during the 1st quarter. Providence Capital Advisors LLC now owns 15,593,974 shares of the iPhone maker’s stock worth $94,566,000 after buying an additional 15,500,812 shares during the period. 58.51% of the stock is currently owned by institutional investors and hedge funds.

Apple Price Performance

Apple stock opened at $176.08 on Tuesday. The company has a current ratio of 0.98, a quick ratio of 0.92 and a debt-to-equity ratio of 1.63. The business’s 50 day simple moving average is $183.01 and its 200 day simple moving average is $176.71. Apple Inc. has a 12 month low of $124.17 and a 12 month high of $198.23. The company has a market cap of $2.75 trillion, a price-to-earnings ratio of 29.59, a PEG ratio of 2.55 and a beta of 1.27.

Apple (NASDAQ:AAPL – Get Free Report) last posted its quarterly earnings results on Thursday, August 3rd. The iPhone maker reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.07. Apple had a return on equity of 164.92% and a net margin of 24.68%. The company had revenue of $81.80 billion during the quarter, compared to the consensus estimate of $81.79 billion. During the same quarter in the prior year, the company earned $1.20 EPS. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Sell-side analysts forecast that Apple Inc. will post 6.05 EPS for the current year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Monday, August 14th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Friday, August 11th. Apple’s dividend payout ratio (DPR) is currently 16.13%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. TD Cowen upped their price target on shares of Apple from $195.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, August 1st. Raymond James raised their target price on Apple from $180.00 to $200.00 and gave the stock an “outperform” rating in a research report on Friday, August 4th. Credit Suisse Group reiterated an “outperform” rating and issued a $220.00 price target on shares of Apple in a research report on Friday, September 15th. Citigroup restated a “buy” rating and set a $240.00 price objective on shares of Apple in a research report on Friday, August 4th. Finally, Piper Sandler upped their target price on Apple from $180.00 to $220.00 and gave the company an “overweight” rating in a report on Monday, July 31st. Ten investment analysts have rated the stock with a hold rating and twenty-six have issued a buy rating to the stock. Based on data from MarketBeat, Apple has a consensus rating of “Moderate Buy” and an average price target of $199.41.

Check Out Our Latest Stock Report on Apple

Insider Activity at Apple

In related news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the transaction, the senior vice president now directly owns 136,445 shares in the company, valued at approximately $24,363,619.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.06% of the stock is currently owned by corporate insiders.

Apple Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.